Jason Wise/MLB Photos via Getty Images(SEATTLE) -- The Seattle Mariners held a news conference Wednesday in which they signed starting pitcher Felix Hernandez to a new seven-year contract. ESPN is reporting that the deal is worth $175 million, which would make Hernandez the highest paid pitcher in baseball history.

The three-time All-Star was set to make $19.5 million this season and $20 million in 2014. His new contract will pay him an average annual salary of $25 million.

“I’ll tell you this, I will do my best,” Hernandez said. “We are going to make the playoffs. We are going in the right direction. We got a lot of young talent and we are going to be one of the toughest teams in the league.”

The 26-year-old Hernandez has spent his entire eight-year career with the Mariners, where he has compiled a record of 98-76 with a 3.22 ERA. He has struck out 1,487 batters in 1,620 1-3 innings of work.

Hernandez won the American League Cy Young award in 2010 and pitched a perfect game against the Tampa Bay Rays last season.